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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 643   View pdf image (33K)
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ANDREWS v. SCOTTON. 643

In such case, the estate is sold before one of the masters in chan-
cery, who, after the particulars of sale are prepared, corrects and
sanctions it by his signature, to authorize the insertion of the ad-
vertisement in the Gazette. After which the master, with the
approbation of the parties, fixes a time of sale; and the second
advertisement, for there are always two, is then inserted in the
Gazette, stating the time of sale. On the day of sale a particular
of the property, or lots to be sold, is prepared under the authority
of the master. The property or lots successively are put up at a
price offered by a person present, and every bidder must sign his
name, and the sum he offers, in the space on the particular under
the lot for which he bids. The best bidder is, of course, declared
to be the purchaser; the biddings are closed, and he is reported as
such by the master, to the court; and if the sale be ratified, the
contract is complete, (h)

In this state the manner and terms of sale are particularly pre-
scribed in the decree; and the trustee is directed to conform
thereto. The sale may be directed to be either private or public.
If the latter, it is conducted in the form of an ordinary auction;
the bids are received verbally, and the highest bidder is reported
as the purchaser by the trustee.

All the several forms of sale are, however, mere modal regula-
tions; each of them has its advantages and inconveniences; but
none of them can, in any way, materially affect the parties to the
contract, or its terms, nature, or obligatory force. The English
Court of Chancery will not suffer the property to be sold in any
manner different from that prescribed, (i) In this state these modal
regulations are not regarded as of so much importance; and are
therefore not so strictly adhered to. If a trustee, who is directed
by the decree to sell the tract of land entire, and at public sale,
should sell it at private sale and in parcels, or in any other manner
different from the mode prescribed, and report satisfactory reasons
for doing so, and no objection is made, the sale may be ratified.

But whatever variety or difference may exist as to the mere
modality of sale, the intentions and general objects are the same
every where and in all cases. The benefit of the interested par-
ties, for whom the court makes the sale, is always and chiefly
' regarded. The highest price that can be had, under all circum-

(h) Sugd. Vend. & Pur. 37; 1 Newl. Pra. Cha. 334; 2 Fowl. Exch. Pra. 255.—
(i) Annesley v. Ashhurst, 3 P. Will. 282.

 

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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 2, Page 643   View pdf image (33K)
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